$CATI GOOD TIME TO SHORT NOW đđ
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With that bearish flag forming on the 30 min chart, I'm pretty sure of a further decline and let the price action do the talking like every single time.
The $1 mark was the significant level which has been retested multiple times and the recent rejection has ultimately completed that flag drawing the price further down.
As of now it's hovering near the immediate support at $0.92 which is trying to hold the price. Breaking the lower trendline of the flag will definitely put pressure on the buyers, thus giving an upper hand to sellers and the next key level to watch is $0.87 followed by $0.81. The consolidation range formed between $0.87-0.90 will try to resist further decline as we can see on the chart.
But once these two support levels are broken, it will lead to a price discovery zone and the hunt for new support levels will begin. The impact hasn't been that strong after listing, especially if compared to the three new memecoins a few days ago.
The negative buzz was making more headlines and a majority of traders looked unhappy.
Currently the technicals are indicating a retracement which could be long enough if sellers are leading the charge.
*This is not investment advice. Please do your own research before taking any trade.
